... It is calculated by dividing the number of unemployed individuals by the sum of the number of people unemployed and the number of people employed. The number of people unemployed and the number of people employed is the number of individuals in the labor force. An individual is counted as unemployed if the individual is over the age of 16 and is actively looking for a job, but cannot find one. Students, those individuals who choose to not work, and retirees are not in the labor force, and therefore not counted in the unemployment rate. Table 1: Calculation of the Unemployment Rate Description Total civilian population 222,161,000 (excluding those under 16, members of the military, and persons in institutions) - Not in Labor force 75,298,000 (retired, students, individuals choosing not to work) = Labor force 146,863,000 (total population minus those not in labor force) - Employed 138,566,000 (individuals with jobs) = Unemployed 8,297,000 (individuals without a job and actively searching) Unemployment Rate = 8,297,000 138,566,000 + 8,297,000 = 5.6% Relevance of ...

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